Twenty-First Century Fox Inc. (NASDAQ:FOXA ) posted mixed fiscal second quarter earnings results after hours yesterday, as profit topped expectations but revenue fell shy of analysts’ view.

Written by StockNews.com

The New York City-based entertainment giant reported adjusted Q2 EPS of $0.53, which was $0.04 better than the Wall Street consensus estimate of $0.49. Revenues rose 4.2% from last year to $7.68 billion, falling short of Wall Street’s $7.72 billion view, however.

Fox noted that Cable Network Programming quarterly segment OIBDA rose 6% to $1.33 billion, while domestic affiliate revenue rose 7%. Domestic advertising revenue grew 12%, and Television generated quarterly segment OIBDA surged 35% to $376 million. Finally, Filmed Entertainment OIBDA jumped 29% to $389 million.

FOXA also said that its acquisition of British satellite TV operator Sky is expected to close by the end of 2017.

The company commented via press release:

“We delivered a second consecutive quarter of double-digit earnings growth, driven by solid increases in affiliate and advertising revenues across cable and television. Our record-breaking post-season baseball run underscores the immense value of our sports programming, as well as the broader competitive advantage we have built through our other leadership positions in entertainment and news. We also continue to excel creatively, with our television studio producing the number one series on six networks, FX Networks leading all networks in Golden Globe wins and our film studio recognized with 7 Academy Award nominations. Additionally, during the quarter we announced an offer to purchase the approximate 61% interest in Sky we do not already own. We expect the transaction will generate significant adjusted earnings per share and free cash flow accretion and it provides clarity on our near-term capital allocation priorities.”

…Year-to-date, FOXA had gained 10.77% prior to today’s report, versus a 2.42% rise in the benchmark S&P 500 index during the same period.